Internet reports that Bitcoin's dominance in the cryptocurrency market has recently declined, and analysts pointed out that this does not mean that the "copycat season" is coming. Zach Pandl, director of research at Gray Scale, said that Bitcoin's dominance may rise when the market focuses on macroeconomic instability and risks to the U.S. dollar; while Bitcoin's dominance may decline when the market focuses on various applications of blockchain technology and innovations in the encryption field. Zach Pandl added that from a macro perspective, he is bullish on Bitcoin; from the perspective of technology development and user adoption, he is also optimistic about altcoins.